We provide professional insurance for accountants, architects, engineers, doctors, lawyers and other professionals against error, omission claims that they may encounter while offering their services to the public.
Professional Liability insurance protects professionals against claims initiated by their clients and resulting from the practice of their profession. It is required by professionals who have expertise in a specific area, and offers protection against claims arising out of business or professional practices such as negligence, malpractice, misrepresentation, errors or omission.
Some of the advantages of having this cover:
- You are indemnified in the event of a claim
- No Impact on your company’s balance sheet
- Demonstrate to your clients that their interest has been considered
- Protect damage to your company’s reputation
Period of Insurance
Such policies are normally issued on annual basis.
A deductible for each and every loss under the policy may be applicable under some sections of the policy.
The policy covers the monetary amounts, including defense costs, that you are liable to pay to a third party following an action brought against you for any
- Negligent Act
- Negligent Error
- Negligent Omission
- Negligent Breach of Trust
- Negligent Breach of Professional Duty
- Negligent Misrepresentation
- Loss of documents
- Libel, Slander, Defamation
- Unfair competition
- Unintentional Breach of confidentiality
- Unintentional Breach of copyright or patent infringement
- Misstatement or misrepresentation
- Employers Practice Liability
- Dishonesty of employees
- Any Circumstances you know of at inception
- Any Wrongful Act, Error or Omission that took place prior to the Retroactive Date
- Any Dishonest, fraudulent or malicious acts
- Contractual Liability unless attached in the absence of the contract
- Liability for bodily injury or property damage
- Fines, Penalties, Punitive or Exemplary Damages
- Liability to shareholders
- Liability for financial risks (i.e. Depreciation in investments..)
- Liability in respect of pollution
- War, sabotage and terrorism
Premium rates are based on:
- Type of profession
- Annual turnover
- Territory involved
- Policy limit of liability
- Policy deductibles
- Your professional experience
- Extensions opted for
Please note that for the easy understanding of the insurance policy, we have highlighted the important aspects. We will be glad to receive your queries and discuss the full set of policy terms, conditions and exclusions.
For more information, please contact Nasco Gulf at +971 4 351 8610.
- Claims Made Basis”: Claims have to be brought against you during the period of the policy.
- The Acts to which the claim is related must be on or after the Retroactive Date.
- Covers any claim related to any circumstances known and advised to you during the policy period.
- You must alert us of any accident that may lead to a claim covered under the policy, and our team of experts will assist you in the quick settlement of the claim.
Call us as soon as possible, in case of an accident, and our team of experts will guide you through the claim process. For more information, please contact Nasco Gulf at +971 4 351 8610